Time-heterogeneous impacts of global temperature cycle on world business cycle

Autor:	Kyungsik Nam
Jazyk:	angličtina
Rok vydání:	2024
Předmět:	Climate change global temperature anomaly world business cycle structural VAR model C13 C51 Economic growth development planning HD72-88 Economic history and conditions HC10-1085
Zdroj:	Journal of Applied Economics, Vol 27, Iss 1 (2024)
Druh dokumentu:	article
ISSN:	15140326 1667-6726 1514-0326
DOI:	10.1080/15140326.2024.2428737
Popis:	We study the statistical relationship between the world business cycle and the global temperature cycle. To amplify the signal-to-noise ratio, we estimate a two-state latent dynamic process from the original data using the endogenous regime-switching methodology. Subsequently, we apply a time-varying structural VAR analysis to identify the time-heterogeneous relationship between the extracted latent factors. Our findings provide empirical evidence that the global mean temperature cycle has a negative impact on the world business cycle during super El Niño periods, which are characterized by relatively high temperature variance records given the past information.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/fe8f053e6cc04379b7951562f6192331 Zobrazit plný text záznamu View record in DOAJ